SwissRamble
@swissramble.bsky.social
Brit blogging about the business of football. You can find my detailed analysis at https://swissramble.substack.com/
Much more detail in today's Norwich City blog, including ownership change, importance of player trading, wages, transfer spend, debt, cash flow, significant owner funding and PSR #NCFC
swissramble.substack.com/p/norwich-ci...
swissramble.substack.com/p/norwich-ci...
Norwich City Finances 2024/25
Losing My Religion
swissramble.substack.com
November 17, 2025 at 8:32 AM
Much more detail in today's Norwich City blog, including ownership change, importance of player trading, wages, transfer spend, debt, cash flow, significant owner funding and PSR #NCFC
swissramble.substack.com/p/norwich-ci...
swissramble.substack.com/p/norwich-ci...
Norwich’s revenue has dropped by a hefty £95m (71%) from the club record £134m three years ago in the Premier League, almost entirely due to lower TV rights deal after relegation #NCFC
November 17, 2025 at 8:32 AM
Norwich’s revenue has dropped by a hefty £95m (71%) from the club record £134m three years ago in the Premier League, almost entirely due to lower TV rights deal after relegation #NCFC
Norwich have long been regarded as a club that tries to operate sustainably, posting a profit in seven of the ten seasons up to 2020/21. However, they have lost money in all four years since then, adding up to £86m in that period #NCFC
November 17, 2025 at 8:32 AM
Norwich have long been regarded as a club that tries to operate sustainably, posting a profit in seven of the ten seasons up to 2020/21. However, they have lost money in all four years since then, adding up to £86m in that period #NCFC
Norwich City’s pre-tax loss widened from £14.4m to £20.7m, mainly due to a steep reduction in revenue, which dropped £33.8m (46%) from £73.1m to £39.3m after parachute payments stopped. Partly offset by higher player sales and cost cutting #NCFC
November 17, 2025 at 8:32 AM
Norwich City’s pre-tax loss widened from £14.4m to £20.7m, mainly due to a steep reduction in revenue, which dropped £33.8m (46%) from £73.1m to £39.3m after parachute payments stopped. Partly offset by higher player sales and cost cutting #NCFC
A warning that this is a bit of an epic, as there is so much going on at Barcelona, so you might need an espresso (or two) 😉
youtu.be/eVli-tstM5E?...
youtu.be/eVli-tstM5E?...
Sabrina Carpenter - Espresso
YouTube video by SabrinaCarpenterVEVO
youtu.be
November 13, 2025 at 8:34 AM
A warning that this is a bit of an epic, as there is so much going on at Barcelona, so you might need an espresso (or two) 😉
youtu.be/eVli-tstM5E?...
youtu.be/eVli-tstM5E?...
Much more detail in today's Barcelona blog, including revenue growth, economic levers, player trading, Champions League, stadium development, huge debt, PSR, comparatives against Spanish and European clubs, numerous restatements, etc.
swissramble.substack.com/p/barcelona-...
swissramble.substack.com/p/barcelona-...
Barcelona Finances 2024/25
Shake It Off
swissramble.substack.com
November 13, 2025 at 8:34 AM
Much more detail in today's Barcelona blog, including revenue growth, economic levers, player trading, Champions League, stadium development, huge debt, PSR, comparatives against Spanish and European clubs, numerous restatements, etc.
swissramble.substack.com/p/barcelona-...
swissramble.substack.com/p/barcelona-...
To highlight Barcelona's new found frugality, their €490m gross transfer spend in the last five years was less than half of the €1.2 bln in the preceding 5-year period. Indeed, net spend in the last two years was just €3m.
November 13, 2025 at 8:34 AM
To highlight Barcelona's new found frugality, their €490m gross transfer spend in the last five years was less than half of the €1.2 bln in the preceding 5-year period. Indeed, net spend in the last two years was just €3m.
Barcelona set a new revenue record of €916m, overtaking €852m pre-pandemic peak, despite playing at the Olympic Stadium, mainly due to significant commercial growth.
The club's revenue definition of €994m includes €43m gain on player sales and €35m provisions movements.
The club's revenue definition of €994m includes €43m gain on player sales and €35m provisions movements.
November 13, 2025 at 8:34 AM
Barcelona set a new revenue record of €916m, overtaking €852m pre-pandemic peak, despite playing at the Olympic Stadium, mainly due to significant commercial growth.
The club's revenue definition of €994m includes €43m gain on player sales and €35m provisions movements.
The club's revenue definition of €994m includes €43m gain on player sales and €35m provisions movements.
To get a good understanding of Barcelona’s underlying position, we need to adjust for all the exceptional items, which highlights the impact of the economic levers and special provisions.
November 13, 2025 at 8:34 AM
To get a good understanding of Barcelona’s underlying position, we need to adjust for all the exceptional items, which highlights the impact of the economic levers and special provisions.
The small €8m loss last season represented a return to some sort of normality to Barcelona, as the net impact of exceptional items was relatively small. The club said that this would continue in 2025/26, budgeting a €5m pre-tax profit.
November 13, 2025 at 8:34 AM
The small €8m loss last season represented a return to some sort of normality to Barcelona, as the net impact of exceptional items was relatively small. The club said that this would continue in 2025/26, budgeting a €5m pre-tax profit.
Barcelona made a pre-tax loss of €8m, significantly better than prior year's €204m deficit, largely driven by steep reduction in exceptional items from €225m to €10m, due to movement in economic levers. Club referenced a €2m "operating" profit excluding exceptionals.
November 13, 2025 at 8:34 AM
Barcelona made a pre-tax loss of €8m, significantly better than prior year's €204m deficit, largely driven by steep reduction in exceptional items from €225m to €10m, due to movement in economic levers. Club referenced a €2m "operating" profit excluding exceptionals.
Much more in today's Derby County piece, including revenue growth, transfer spend, wages, debt, cash flow, ownership, PSR and comparatives with other Championship clubs #dcfc
swissramble.substack.com/p/derby-coun...
swissramble.substack.com/p/derby-coun...
Derby County Finances 2024/25
There Is A Light That Never Goes Out
swissramble.substack.com
November 10, 2025 at 8:26 AM
Much more in today's Derby County piece, including revenue growth, transfer spend, wages, debt, cash flow, ownership, PSR and comparatives with other Championship clubs #dcfc
swissramble.substack.com/p/derby-coun...
swissramble.substack.com/p/derby-coun...
In the three seasons since coming out of administration, Derby have lost £45.7m before tax, though the good news is that the losses have now fallen two years in a row. No accounts published between 2019 and 2022 #dcfc
November 10, 2025 at 8:26 AM
In the three seasons since coming out of administration, Derby have lost £45.7m before tax, though the good news is that the losses have now fallen two years in a row. No accounts published between 2019 and 2022 #dcfc
Following promotion, Derby’s pre-tax loss narrowed from £14.2m to £11.1m. Revenue shot up £12.5m (64%) from £19.4m to £31.9m, but this was offset by £15.0m (39%) growth in operating expenses. Net improvement due to profit on player sales, up from £4.6m to £10.3m #dcfc
November 10, 2025 at 8:26 AM
Following promotion, Derby’s pre-tax loss narrowed from £14.2m to £11.1m. Revenue shot up £12.5m (64%) from £19.4m to £31.9m, but this was offset by £15.0m (39%) growth in operating expenses. Net improvement due to profit on player sales, up from £4.6m to £10.3m #dcfc
He’s clearly having a lot of fun, which is great to see.
November 5, 2025 at 10:43 PM
He’s clearly having a lot of fun, which is great to see.
Manchester was mentioned a couple of times 🙂
November 5, 2025 at 10:42 PM
Manchester was mentioned a couple of times 🙂
I very nearly bought the t-shirt 😉
November 5, 2025 at 10:42 PM
I very nearly bought the t-shirt 😉
Here you go. Couple of new tracks, but the crowd understandably went crazy for The Smiths’ songs.
November 5, 2025 at 10:18 PM
Here you go. Couple of new tracks, but the crowd understandably went crazy for The Smiths’ songs.